California-based Fairfield Residential has acquired a 174-unit apartment complex at 333 Winthrop Ave. in Lawrence in a joint venture with TRECAP Partners LLC for $26.35 million.
The 11-year old River Pointe at Den Rock Park Apartments is a garden-style development that sits on seven acres. The property features a business center, fitness center with swimming pool, car wash and direct access to the 120-acre Den Rock Park woodland preserve, according to a statement.
"The acquisition of River Pointe provides Fairfield an excellent opportunity to expand our presence in the Boston market and adds to our East Coast portfolio," said Bill Revers, Fairfield’s eastern region senior acquisition officer. "In addition, it serves our strategy of buying in high barrier to entry markets."
